Mar 15, 2010

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Resiliency gives way to reality

Posted:

So much for sterling resiliency.   Cable stops have been tripped through 1.5150 and we've quickly fallen to 1.5100, while EUR/GBP has rallied to .9090 having earlier fallen as low as .9047.   The early sterling strength was a little perplexing given the raft of bad news/articles.  The improvement seems to have been ...

Japan FinMin Kan: Yen relatively stable now, but

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Concerns remain that euro's woes could affect yen. Japanese authorities remain very much on the guard against any renewed yen strength.

EUR/USD off to steady start; BIS seen on bid

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EUR/USD sits at 1.3737, all but unchanged from when I arrived 3 1/2 hours ago.  Narrow rangebound trade has prevailed at the start of the European week.  Talk in the market has the BIS on the bid down at 1.3730. Some stops tipped through 1.3720.  Meanwhile sovereign sell orders tipped at 1.3800 and ...

ECB: ECB says banks deposited E106.3bln with it and..

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ECB: ECB says banks deposited E106.3bln with it overnight and banks also borrowed E108mln at the marginal rate. ECB also said that Eurosystem has now purchased E41.544bln worth of covered bonds as of Mar 14.

Fragile recovery may push up unemployment, warns Bank of England

Posted:

Unemployment could continue to climb as economy recovers, warns Bank of England. A s we saw last week, cable continues to run into ready supply above 1.5200 at the moment.  Cable back at 1.5160 having popped to 1.5207 a little earlier.

The competitive pound is one of the few things we have got going for us

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Roger Bootle in The Telegraph.

CHINA: The Shanghai Composite Index ends down 1.21%..

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CHINA: The Shanghai Composite Index ends down 1.21% at 2,976.94.

JAPAN: Japan’s govt upgrades its economis assessment.

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JAPAN: Japan's govt upgrades its economis assessment for the first time since July 2009, saying the economy has been steadily picking up. However, it adds that deflation still remains a risk to the economy.

US: US data starts at 1230GMT due to the change in…

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US: US data starts at 1230GMT due to the change in US clocks over the weekend, when the NY Fed Empire State index is expected to decline to a reading of 22.0 in March after jumping in February. This is followed at 1300GMT by the January Treasury International Capital System (TICS) data, ...

Japan government upgrades economic assessment for first time since July 2009

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Economy has been steadily picking up Maintains view deflation poses threat to economy Government repeats will work with BOJ to beat deflation, ensure econmic recovery Raises assessment on personal consumption, capex Japan government official says escape from deflation still far off.

EUROPE: The Eurozone finance ministers meet in while.

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EUROPE: The Eurozone finance ministers meet in Brussels today, while ECB speakers are also on the schedule, starting at 0930GMT, when ECB Executive Board member Gertrude Tumpel-Gugerell participates in a press conference on technical cooperation between the ECB and the Central Bank of Bosnia and Herzegovina, in Sarajevo. The only EMU data of note ...

Cable slips during Asian trade

Posted:

Cable lost a little ground during Asian trade, presently down at 1.5165 from a North American close Friday up around 1.5195.  EUR/GBP is steady around .9060. Given latest developments sterling is showing some resilience.  Latest weekend opinion polls continue to suggest at hung parliament being the most likely outcome of the general ...

UK: UK companies have reduced total labour costs by..

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UK: UK companies have reduced total labour costs by similar amounts to previous recessions, but have cut employment by less, a study in the Bank of England's latest Quarterly Bulletin finds. "Employment to date has not fallen by as much as we might have feared," Bank of England Chief Economist ...

EUR/USD slightly easier at start of week

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EUR/USD is down at 1.3737,  having closed out last week in North America up around 1.3760. The move comes amid ongoing speculation China is close to implementing further steps to rein in growth, which is weighing on Asian stocks. Morgan Stanley expects "multiple" increases in bank reserve ratio requirements and higher ...

JAPAN: Comments from MOF’s Noda………………….

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JAPAN: Comments from MOF's Noda -- Flexible yuan a plus to both the world and China economy.

UK PRESS: Companies based in southern Europe have to.

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UK PRESS: Companies based in southern Europe have joined the rush to issue corporate debt and sold more bonds last week than in any week over the past six months, the FT reports. But they are paying investors higher interest rates as a result of the Greek debt crisis, the ...

UK PRESS: UK banks could receive billions of pounds..

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UK PRESS: UK banks could receive billions of pounds in new state guarantees to head off the threat posed by a 500 billion hole in the financial system, the Sunday Times reported. Concerns are mounting about how banks will replace the emergency lending facilities provided by the Bank of England, ...

EUROPE: The euro zone has not agreed a deal on for…

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EUROPE: The euro zone has not agreed a deal on financial support for heavily indebted Greece, but technical work is continuing and the Commission stands ready to act if need be, Irish Times reported Sunday, citing an EU spokesman.

UK PRESS: Lloyds Banking Group is believed to be to..

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UK PRESS: Lloyds Banking Group is believed to be considering plans to hive off a portion of its giant commercial property portfolio into a separate, tax-efficient company, the Independent on Sunday says.

FRANCE: Nicolas Sarkozy’s centre-right UMP party to..

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FRANCE: Nicolas Sarkozy's centre-right UMP party appears to be heading for defeat in French regional elections, the BBC website reports. Early results suggest the opposition Socialist party has taken a strong lead in the first round of voting, the Beeb says. The far-right National Front looks to have done better ...
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